Brad Garlinghouse: The crypto industry should be as transparent as possible

Article Reading Time:
1 min.

The CEO of Ripple is confident that after the collapse of Terra, the cryptocurrency marketTo regain trust, it will be necessary to provide the most comprehensive information about the financial resources of the projects.

Brad Garlinghouse, in an interview with Fox Business at the World Economic Forum in Davos, said that after the collapse of the UST stablecoin, transparency has become a "critical value" for the industry.

Garlinghouse is not personally involved in the development of the Tether (USDT) stablecoin, but he believes that thisThe entire crypto industry as a whole could succeed if it provided investors with clarity on their financial capabilities and resources.

For the issuer, this would assure users that the stablecoin is "effectively backed by the dollar."Garlinghouse cited the XRP cryptocurrency from Garlinghouse as an example of a transparent projectRipple and stated that the team has gone above and beyond to "be responsible in the financial sector."

At the same time, the Securities and Exchange Commission (SEC) does not consider Ripple to representis a cryptocurrency project with a transparent investment system.The SEC is engaged in a legal battle with Brad Garlinghouse, accusing Ripple of distributing XRP as an unregistered security and manipulating the cryptocurrency market.